LandFX UK Sees Sharp Uptick in 2019 Revenue, Ends Up in Losses

LandFX UK Ltd, the UK-based arm of FX and CFDs broker , has published its annual financial results for 2019, reporting a significant increase in its revenue to £470,000.
The UK subsidiary of the Asian broker reported total revenue of only £65,000 in 2018, meaning last year its revenue leaped 623 percent year-on-year.

Despite the impressive number, the brokerage for the year, however, the rise in revenue significantly shrank the losses compared to the previous year’s numbers. For 2018, LandFX UK reported £542,000 in losses, but lost only £165,000 last year.
This primarily due to the major operating costs of the company that increased to £679,401 in 2019 from £631,042 the previous year. This shrank the 2019’s gross profit of £458,234 into losses.
European expansion in full swing
LandFX back in 2016 to operate a foreign exchange and CFDs brokerage business. After one year, the company launched an institutional offering under the brand Land-Liquidity, which is focused on providing institutional liquidity for FX, CFDs, metals, and commodities.
The revenue increase is the result of the broker’s push to expand in the other European and non-European markets, apart from confining its operations to the UK.
“During the year, the company continued to expand its client base in [the] European and non-European market. This was achieved through the use of on-line and off-line marketing campaigns,” the Companies House filing stated.
The broker, however, did not mention any of its plans to continue its European operations following the looming Brexit.
The net asset of the brokerage, however, dropped from £551,082 in 2018 to £385,611 in 2019.

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